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Where Taxpayers and Advisers Meet

Search found 67 matches

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by Herbs16
Wed Jun 05, 2019 2:28 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: New buildings allowance
Replies: 0
Views: 55

New buildings allowance

Hi all
Is this worth claiming anymore?
If it reduces your properties base cost, is there any point?
Any advice or explanations would be appreciated.
Thanks very much
by Herbs16
Thu Apr 18, 2019 9:48 am
Forum: Company Taxation
Topic: Buildings allowance
Replies: 0
Views: 114

Buildings allowance

Hi all
Is this worth claiming anymore?
If it reduces your properties base cost, is there any point?
Any advice or explanations would be appreciated.
Thanks very much
by Herbs16
Wed Oct 31, 2018 3:34 pm
Forum: Capital Gains Tax, CGT
Topic: Entrepreneurs relief
Replies: 1
Views: 234

Entrepreneurs relief

Hi An individual owns some land which he trades as a dirt track and the income goes through a limited company, no rent is charged by the individual If the land is sold can he claim entrepreneurs relief or should he put the land in the companies name? Any help or reference to legislation would be a b...
by Herbs16
Fri Oct 26, 2018 10:44 am
Forum: VAT & Excise Duties
Topic: Vat on building purchase
Replies: 3
Views: 421

Re: Vat on building purchase

But if we don’t opt to tax it, then we can’t claim the vat on the land invoice and also the construction itself?

It won’t be rented out for many years, it is for us to trade out of.

thanks
by Herbs16
Wed Oct 24, 2018 4:36 pm
Forum: VAT & Excise Duties
Topic: Vat on building purchase
Replies: 3
Views: 421

Vat on building purchase

I am buying land as a limited company and putting a building on it solely for the limited company to use. To claim back the vat relating to the land and building, do I need to complete an option to tax form for the land and buildings? Its from a developer who is charging vat

Many thanks
by Herbs16
Mon Oct 15, 2018 11:57 am
Forum: Income Tax
Topic: CGT query
Replies: 1
Views: 253

CGT query

Mr L owns a rental property, cost £32k in 1996

Transferred 50% to spouse and jointly owned from 2011, value then was circa £110k

now valued at £130k, always rented out

Mr £35k income, Mrs £33k

CGT please?
by Herbs16
Fri Aug 17, 2018 9:38 am
Forum: Capital Gains Tax, CGT
Topic: Gain on shares sale
Replies: 2
Views: 434

Gain on shares sale

Can someone help please

My friend has a company, husband and wife 50/50 set up they are separating and the company is buying back the shares from the wife, she earns £100k, will she pay 28% cgt on the gain or can she claim entrepreneurs relief and pay 10%, she will not trade again.
Thanks
by Herbs16
Fri Aug 17, 2018 9:35 am
Forum: Capital Gains Tax, CGT
Topic: CGT calc help please
Replies: 2
Views: 310

CGT calc help please

Morning Forum
Can someone help on my numbers please to calculate the gain

Property jointly owned, husband and wife, rented throughout.

Purchased October 2007 for £90000
Purchase and selling fees £2908

Sold October 2017 for £125000

Thanks
by Herbs16
Thu Jun 21, 2018 9:49 am
Forum: Capital Gains Tax, CGT
Topic: CGT CALC ON RENTED PROPERTY
Replies: 11
Views: 1221

Re: CGT CALC ON RENTED PROPERTY

Hi Im preparing the tax return so have actual dates 21/5/02 Cost £117555 Stamp duty £1175 Legal fees £2015 11/12/17 Disposed £369000 Legal fees £5823 Lived in from purchase date until 1/7/11 when it was rented to date of disposal Solely owned, other employed income for 17/18 £34402 CGT estimate plea...
by Herbs16
Tue May 29, 2018 8:33 am
Forum: Capital Gains Tax, CGT
Topic: CGT calculation
Replies: 1
Views: 487

CGT calculation

Hi forum

Can someone help me out please

My colleague purchased a property in October 2003 for £71000, fees of £1000
He lived in it until July 2010, then rented from Aug 10 to 31/7/17, then vacant to 19/1/18 when it was sold for £90000, fees of £1513

any tax liability please?
Thanks

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